About The Event

4th CRE Awards 2021

CEE CRE Awards is the only commercial real estate event that is truly international with over 200 attendees, with an estimated 40% flying in for the event. With some of the most active local regional and international companies attending this event is not to be missed.

Demand fundamentals are strong in the office, industrial, retail and hotel sectors with rental growth, low vacancy, high room occupation rates and strong projected demand for quality, well-located product in Budapest and leading Central European cities. In order to successfully develop, lease, and sell assets, developers need to deliver product that is sustainable from an interior and locational perspective and in the provision of amenities. Development finance is more readily available and in these more mature markets companies are undertaking more prudent development strategies in line with better researched knowledge of market conditions and longer-term demand. Further, location is a central issue for building users and the expectation is that developments need to contribute to the wider city and environment. In this way the market can be seen as operating in parallel to meeting wider environmental concerns. However, labour and development costs are increasing and well-located development plots have become increasingly scarce. more difficult to source.
Discussion Points:
Is the Budapest office development boom sustainable? What are the possibilities for retail development? Could a commercial industrial development market emerge across Hungary? What are the development strategies of developers in the different sectors? Is the quality of development on par with Western Europe? How central is location and integration into the urban environment for a project? Is finance available on more favourable terms? How difficult is it to source development sites Are the labour shortages and rising construction costs putting a break on development?

Investors see Hungary and the CEE as an increasingly attractive place to invest as high yielding property investments are more difficult to source worldwide. Demand for investment-grade assets in CEE far outweighs supply as asset owners have the option of holding onto their products and are able to exit at a time of their choosing with multiple bids from a wider diversity of both international and domestic investors. In response to investor demand developers are delivering higher quality and specified buildings that meet the requirements of high-end investors. Local capital now constitutes a significant proportion of investment transaction volume, with more than 50 percent of transactions in for example Hungary and Czech Republic. This provides perceived security and liquidity for the markets and makes them less reliant on a positive attitude from foreign investors. From the other viewpoint, this makes sourcing product more difficult for international investors as local investors are able to exploit long term relationships with developers. With the limited supply of product investors are considering more imaginative investment vehicles such as value/redevelopment and alternatives to the mainstream market sectors.
Discussion Points:
What is the position of Hungary in CEE from an investment perspective? Is there enough investment grade stock and pipeline to meet investor demand? What investment volumes are expected for the year in Hungary and the Czech Republic How will this break down between the different sectors? What is the yield differential with Western Europe? In the current investment environment is the trend to exit or to hold onto product? Is the role of local capital deterring international investors? Could an investment market develop outside the capitals as elsewhere in Central Europe? Is redevelopment a valid investment option?

Developers are going forward with projects in the office, retail, and industrial markets in response to record low vacancy and high demand with limited availability of space. With regard to the office sector, the current office development boom in Budapest is seen as more sustainable than previous periods of high development. Developers are undertaking measured development strategies and hedging their bets by developing speculative projects in phases, commencing construction once a substantial prelease has been concluded or developing on a built-to-suit basis. In response to tenant demand, developers are producing increasingly higher quality office centres from a sustainability, design and location perspective. Retail market conditions are now regarded as appropriate for the delivery of new Budapest shopping centres that would freshen the market after a decade with no new delivery. Vacancy rates are close to zero in leading centres and owners are redeveloping existing projects. Built-to-suit is the development vehicle of choice in the industrial market, although with record low availability and strong demand industrial developers are increasingly opting for some speculative development. A functioning commercial logistics market has still not emerged outside the capital as has occurred elsewhere in Central Europe. High hotel occupancy and increasing tourist number is encouraging large-scale and boutique-style hotel development at the mid and higher end of the market. A shortage of skilled labor and rising construction costs is seen as a barrier to growth in all sectors of real estate and related industries.
Discussion Points:
Is the Budapest office development boom sustainable? What are the possibilities for retail development? Could a commercial industrial development market emerge across Hungary? What are the development strategies of developers in the different sectors? Is the quality of development on par with Western Europe? How central is location and integration into the urban environment for a project? Is finance available on more favourable terms? How difficult is it to source development sites Are the labour shortages and rising construction costs putting a break on development?

Although Hungary is the major Central European investment destination after Poland and Czech, providing a yield premium on both of these countries and western Europe, a limited supply of investment grade product is continuing to act as a brake on investment activity, notably a lack of big ticket items that would attract leading institutional investors. Local funds are now competing with returning international capital for top of the market products and therefore increasing competition in the markets. Domestic capital is seen as providing a healthy level of liquidity for the market that was not present in the previous cycle. However, from a negative perspective it could be argued that local investors are deterring potential core investors from targeting Hungary as they increasingly realise they cannot compete with the local funds.
Discussion Points:
What is the position of Hungary in CEE from an investment perspective? Is there enough investment grade stock and pipeline to meet investor demand? What investment volumes are expected for the year in Hungary and the Czech Republic How will this break down between the different sectors? What is the yield differential with Western Europe? In the current investment environment is the trend to exit or to hold onto product? Is the role of local capital deterring international investors? Could an investment market develop outside the capitals as elsewhere in Central Europe? Is redevelopment a valid investment option?

Registration
Prices

595 EUR

Single package gala and summit

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495 EUR

Single package gala only

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250 EUR

Single package summit only

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4 500 EUR

Corporate table of Ten (10)

• Corporate logo on all electronic and printed event materials as “Corporate Table Partner”
• One page advertisement in the event Program
• Recognition as “Corporate Table Partner” during award presentation logo on the presentation
• Four (4) tickets to the forum
• Table Flag.

4 900 EUR

Corporate table of Twelve (12)

• Corporate logo on all electronic and printed event materials as “Corporate Table Partner”
• One page advertisement in the event Program
• Recognition as “Corporate Table Partner” during award presentation logo on the presentation
• Four (4) tickets to the forum
• Table Flag.